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Facebook Stock Suffers Largest One-Day Drop In History, Shedding $119 Billion
Facebook is experiencing one its worst days as a publicly traded company. According to CNBC, Facebook lost about $119 billion of its value on Thursday, marking the biggest one-day loss in U.S. market history. From the report: The company's shares plunged $41.24, or almost 19 percent, to $176.26 a day after the social media giant reported disappointing results. The slide is the largest decline in market capitalization in history, exceeding Intel's $91 billion single-day loss in September 2000, according to Bloomberg data. Founder and CEO Mark Zuckerberg saw his fortune drop by $15.9 billion to roughly $71 billion. His personal loss alone, if only on paper, exceeds the value of companies such as Molson Coors and Macy's, which have market values of $14 billion and $12 billion, respectively. Investors were spooked by Facebook's forecast showing that its number of active users is growing less quickly than expected, while the company also took a hit from Europe's new privacy laws.
Perhaps itâ(TM)s because conservatives and Libertarians are tired of being censored.
but has facebook made our lives better? If it vanished tomorrow would it matter? Like tobacco companies?
Oh look, imaginary value dropped. Sucks to be you.
When is the /. article for when Fuckerberg takes a shit?
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Insecure children censor.
Adults communicate about taboo subjects, and laugh.
Headline should be: "Facebook suffers over-inflated stock prices for X years."
Those who do not learn from commit history are doomed to regress it.
Oh, you think they're stupid? If you haven't figured out by now that stock prices are entirely based on wishful thinking then I've got some bad news for you...
For large companies the notion of a market cap is fiction. If one defines market cap as shares outstanding times market price this number has no bearing on the sale value of the shares. Any attempt to sell a trillion dollars of stock at once would force the price to fall in the process of selling it. At that level the last shares might not even find a buyer at any positive price. Thus the market cap would be massively greater than the realizable market trade.
Saying the market cap dropped by 119 billion is equally gibberish.
If you disagree then you need to also realize that no one ever paid the market cap for all the outstanding stock. Most of it was bought at Lower prices. The integrated area of price by share histogram is far less than the market cap.
Some drink at the fountain of knowledge. Others just gargle.